Baker Hughes Oil Rig Count Rises 7 to 452, Crude Breaks $81.25
Baker Hughes oil rig count rose 7 to 452, a year-over-year gain of 30 rigs. Crude jumped $2.36 to $81.30, breaking above the week's high. Next resistance at $82.01.
Baker Hughes reported a 7-rig increase in oil-directed drilling for the week, bringing the total to 452. Gas rigs held at 126, leaving the overall count at 588.
Versus a year ago, oil rigs are up 30 from 422, a 7% gain. Gas rigs rose 9 from 117. Crude oil rose $2.36 on the day to $81.30, after touching a high of $81.54 and a low of $77.93. The move pushed the price above the previous week's high of $81.25. The next technical target sits at $82.01.
The rig count increase was not enough to weigh on prices. The session's rally reflected a broader bid across commodities, with traders pointing to near-term demand signals rather than supply dynamics.
Baker Hughes (BKR) carries an Alpha Score of 41 out of 100 on AlphaScala, reflecting mixed signals from the energy sector. See the BKR stock page for the full breakdown.
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